New homes are popping up throughout the region, fueled by pent-up demand and enticing mortgage rates.
Where exactly are people buying?
Cane Bay Plantation, if you gauge by latest Carolina One Charleston New Homes Snapshot. A Gramling Brothers development, the burgeoning Berkeley County planned community closed on 68 homes between January and April, up from about 50 sold in the same span in 2012, according to the report issued last week.
Spring Grove Plantation in Moncks Corner was ranked the second most active with about 35 homes closed in the four-month span.
Carolina Bay in West Ashley was third busiest with nearly 30 transactions.
Home prices in the Charleston region kept rising in May, but not enough to keep pace with the national average, a new report shows.
In the Charleston-North Charleston-Summerville area, home prices, including distressed sales, increased by 9.8 percent in May compared with the same month in 2012, according to the real estate information firm CoreLogic.
The U.S. growth rate average was 12.2 percent, which was marked as the biggest year-over-year increase since February 2006, the firm said.
“It's been more than seven years since the housing market last experienced the increases that we saw in May, with indications that the summer months will continue to see significant gains,” said Mark Fleming, chief economist for CoreLogic. “As we approach the half-way point of 2013, home prices continue to respond positively to the reductions in home inventory thus far.”
The California-based firm didn't specify the prices it used to determine the growth rate, but the Charleston Trident Association of Realtors has pegged the median sales figure for May at an even $200,000, up 10 percent from a year earlier.
Five times a charm?
Pop quiz: When you think of a nice retirement community, what comes to mind? Well, according to “Where to Retire” magazine, Daniel Island should be a no-brainer. The publication one again has listed the Charleston community in the “50 Best Master-Planned Communities in the U.S.” It appears in the July/August issue, and marks the fifth time Daniel Island has been included on the annual list.
The Houston-based magazine conducted a year-long review of the communities listed in the report. In Daniel Island's case, the publication was impressed by the two private golf courses, recreational activities at the Family Circle Tennis Center and Blackbaud Stadium, boating, crabbing, parks, shops, restaurants and proximity to Charleston's abundant medical facilities.
Reach Tyrone Richardson at 937-5550 and follow him on Twitter @tyrichardsonPC.
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